State of Louisiana Restore LA Program managed by the OCD-DRU says it will not pay interest on SBA loans.
HUD Guidance 2019: "When the grantee reimburses homeowners, businesses, or other entities for these costs, the grantee may also pay any outstanding interest due on the portion of the principal of subsidized loans used to pay the costs eligible for reimbursement."
HUD FR-6169-N-02 Update:
"Waiver to permit payment of limited interest costs. Section 105(a) is waived to the extent it limits activities to only those activities listed in section 105(a)(1) - (26), and HUD is imposing the following alternative requirement to create a new eligible activity to allow the use of CDBG-DR to pay interest due on subsidized loans in limited circumstances described in this paragraph. Homeowners, businesses, and other entities that received subsidized loans to pay the costs of eligible rehabilitation, demolition, and reconstruction of single family, multifamily, and nonresidential buildings (including commercial properties) are eligible for reimbursement, subject to the requirements of the 2019 DOB Notice, the Prior Notices, and CPD Notice 2015-07 (as may be amended or replaced from time to time). When the grantee reimburses homeowners, businesses, or other entities for these costs, the grantee may also pay any outstanding interest due on the portion of the principal of subsidized loans used to pay the costs eligible for reimbursement. CDBG-DR funds cannot be used to pay fees or the portion of interest attributable to activities that are ineligible for reimbursement."
HUD FR Notice:
"Grantees are prohibited from reimbursing costs that are not otherwise eligible for CDBG-DR assistance, such as compensation for personal property loss or late fees. Payment of interest is not generally an eligible activity, but if permitted by an applicable Federal Register notice granting a waiver, grantees may pay interest due at the time of reimbursement for eligible activities (e.g., interest incurred by the applicant for the portion of an SBA loan used for a CDBG-DR eligible activity)."
Applicability of Updates to Duplication of Benefits Requirements Under the Stafford Act for Community Development Block Grant (CDBG) Disaster Recovery Grantees
- 6169-N-01 Main DOB Notice Final CLEAN 6-14-19 (Signed)
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IV.E. Reassess Unmet Need When Necessary. June 20, 2019 HUD Guidance for Disaster Recovery CDBG-DR programs.
I was denied for EIDL SBA loan and was notified by an email. The reason stated was "Not eligible due to character reasons". I have 90 days to request for reconsideration, what should I submit and what is the effective way to dispute it?
Renter's or Homeowner's Declaration required by the CDC to prevent evictions before Dec. 31, 2020 or if extended the new date.
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I am not a U.S. Citizen but my business meets all the other criteria for a COVID-19 EIDL will I get a loan?
I was not told why my SBA EIDL was declined. Does the SBA send a reason code or declined reason by letter?
FEMA Disaster Assistance for Individuals and Households Program which is provided for temporary repairs of your home so you are not dependent on other housing assistance and is not a Duplication of Benefits (DOB) to other assistance and HUD CDBG-DR Grants
Louisiana Workforce Commission LWC filing your DUA and PUA with the expectation of a backdated FPUC.
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We would like to re-subdivide 3 lots into 2 lots. Currently we hold lots 3,4 and 5 in trait labeled 6...
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- Fri. Feb. 19, 2021